Salesforce raises $1 billion, builds cash hoard

Salesforce said it will use the proceeds for "general corporate purposes, including funding possible acquisitions of, or investments in, complementary businesses, services or technologies, working capital and capital expenditures."

Salesforce said it will use the proceeds for "general corporate purposes, including funding possible acquisitions of, or investments in, complementary businesses, services or technologies, working capital and capital expenditures."

The move to raise cash comes as Salesforce is retooling its message and strategy to focus on building customer driven companies. The company reported strong fourth quarter results and is raising money at a good time given interest rates and its stock price.

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